Paramount Resources Ltd. (TSE:POU) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Paramount Resources Ltd. (TSE:POU) have received an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$30.11.

POU has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of Paramount Resources from C$34.00 to C$19.00 in a research note on Tuesday, February 18th. CIBC dropped their price target on shares of Paramount Resources from C$39.50 to C$24.50 in a research note on Wednesday, February 19th. Jefferies Financial Group dropped their price target on shares of Paramount Resources from C$35.00 to C$21.00 in a research note on Monday. National Bank Financial cut shares of Paramount Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, BMO Capital Markets dropped their price target on shares of Paramount Resources from C$40.00 to C$25.00 in a research note on Wednesday, February 19th.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, Senior Officer Michael S. Han sold 8,320 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$30.86, for a total value of C$256,788.48. 45.36% of the stock is currently owned by insiders.

Paramount Resources Price Performance

Shares of TSE POU opened at C$16.99 on Thursday. The stock has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 6.96, a PEG ratio of 0.14 and a beta of 3.04. Paramount Resources has a 12 month low of C$16.60 and a 12 month high of C$33.06. The firm’s 50 day simple moving average is C$29.18 and its 200-day simple moving average is C$28.39. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68.

Paramount Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.60 dividend on an annualized basis and a yield of 3.53%. Paramount Resources’s payout ratio is currently 73.70%.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.